BellRing Brands (NYSE:BRBR) PT Lowered to $64.00

BellRing Brands (NYSE:BRBR) had its price target dropped by JPMorgan Chase & Co. from $65.00 to $64.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.28% from the stock’s previous close.

BRBR has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of BellRing Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $66.00 target price on shares of BellRing Brands in a research note on Tuesday. Mizuho raised their price target on shares of BellRing Brands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. TD Cowen boosted their price objective on BellRing Brands from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Barclays raised their target price on BellRing Brands from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.64.

BellRing Brands Stock Up 2.6 %

Shares of BRBR stock traded up $1.38 during mid-day trading on Wednesday, hitting $54.11. 852,624 shares of the stock were exchanged, compared to its average volume of 1,369,233. BellRing Brands has a 52-week low of $36.14 and a 52-week high of $62.76. The firm has a fifty day moving average of $55.20 and a 200 day moving average of $56.74. The company has a market cap of $7.06 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.50 and a beta of 0.84.

BellRing Brands (NYSE:BRBR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $515.40 million for the quarter, compared to the consensus estimate of $504.73 million. BellRing Brands had a negative return on equity of 70.95% and a net margin of 10.39%. BellRing Brands’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. Equities analysts predict that BellRing Brands will post 1.8 EPS for the current year.

Insider Activity

In other news, Chairman Robert V. Vitale sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $60.15, for a total transaction of $902,250.00. Following the completion of the transaction, the chairman now directly owns 215,054 shares of the company’s stock, valued at approximately $12,935,498.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On BellRing Brands

Several institutional investors have recently made changes to their positions in BRBR. Thornburg Investment Management Inc. increased its stake in BellRing Brands by 51.1% in the 4th quarter. Thornburg Investment Management Inc. now owns 154,240 shares of the company’s stock valued at $8,550,000 after purchasing an additional 52,181 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of BellRing Brands by 60.3% during the 4th quarter. Franklin Resources Inc. now owns 3,666,584 shares of the company’s stock worth $203,239,000 after buying an additional 1,379,138 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of BellRing Brands by 1,007.4% during the 1st quarter. SG Americas Securities LLC now owns 68,349 shares of the company’s stock worth $4,035,000 after buying an additional 62,177 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BellRing Brands by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,171,230 shares of the company’s stock worth $64,921,000 after buying an additional 33,613 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in BellRing Brands by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 13,280,736 shares of the company’s stock valued at $736,151,000 after acquiring an additional 155,252 shares during the last quarter. 94.97% of the stock is currently owned by hedge funds and other institutional investors.

BellRing Brands Company Profile

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.